Excellent. I think this is a good bounce area. Only reason I'm holding is because I think we can see a huge flush lower if this area doesn't hold. May even see sub 5200.
Wild moves. I'm getting freaking drunk tonight and will forget about the markets until tomorrow. I can't be the only one finding this action exhausting? A very decent green day today, but still 2K below where I was this morning. I erroneously thought I had a bit of a cushion by the RTH Open and sized up a bit more than I should have and got chopped up on a few trades during fast chop. I may be sizing down to micros again tomorrow.
Just as I felt NQ trading up to 18500 was inevitable, I now feel that with the failed breakout above that level, it is now inevitable that NQ trades all that way back down to the 17350-70 range. Below that I feel there is nothing to stop it from going all the way back to those October lows.